Bill > AB155

This bill makes several changes to higher education funding and programs: It requires the University of California to allocate funding for capital outlay planning and construction to finance student housing projects, and requires community colleges that have already received housing grant funding to revert those General Fund resources upon receipt of proceeds from revenue bonds or appropriation of funds related to reverting the allocation. The bill also extends the use of the 2020 3-year cohort default rate for certain qualifying institutions for the 2024-25 academic year to determine Cal Grant eligibility. It repeals provisions related to the Student Aid Commission's auxiliary organization, adjusts the payment of community college district apportionments to defer $446 million in 2023-24 and $244 million in 2024-25 to the subsequent fiscal year, and appropriates $788 million from the Public School System Stabilization Account to support community college districts. The bill increases the Chancellor's apportionment of Part-Time Faculty Office Hours Program funding from 50% to 90% of total costs beginning in 2024-25, and establishes the Rebuilding Nursing Infrastructure Grant Program to develop and expand nursing education programs. Additionally, the bill authorizes the State Public Works Board to issue revenue bonds to finance community college affordable student housing projects, makes various adjustments to the 2022 and 2023 Budget Acts, and extends the application deadline for the Middle Class Scholarship Program by two months for the 2024-25 award year.